Texas Bad Credit Mortgage

Bad credit mortgage lenders in Texas are available to assist with first time home buyers who have poor credit scores or can't document their income. Take advantage of money available to qualify for a home purchase loan or to refinance your home. People with very bad credit usually are turned away from traditional lenders such as your local banks.

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Realize that since you have bad credit, your mortgage rate will be a bit higher. Typically can be 1-4% higher than you were to have good credit. The actual interest rate will depend on your financial history, salary, amount of down payment and other important factors. Don't get fooled into some sort of ARM mortgage because you can't afford a home with a traditional 30 year mortgage.

In fast appreciating states, going with a short term ARM may be good, but in a state as Texas where historic appreciation rates have been between 1-5%, well below the national average, an ARM is definitely not a good idea unless you only plan to stay for a few years.

Let us do the work for you and find a mortgage broker who deal with bad credit borrowers. There are tons of Texas mortgage companies who can help you refinance or buy your first home, so don't spend another moment thinking whether or not you can afford a loan.